Brandless is a pretty revolutionary online store that specializes in selling just about a variety of goods with a focus price of $3. Although $3 is the magical price point established by the e-commerce company, there are several products of varying values that are priced at slightly higher or lower price points. Brandless has high-quality food, beauty products, ingredients, pet products, and even vitamins. The company basically specializes in providing all the items you need at an affordable price, shipped directly to your home. The company even offers organic and non-GMO products of the highest caliber.
The company is able to offer these affordable prices because they have worked to cut out the middleman, meaning the unnecessary steps that occur between the suppliers and the general shelf of a retailer that many people are accustomed to using. Those middleman-type elements add up to a good deal of markups that happen between the initial supplier and a physical retailer. Brandless calls this BrandTax™, and that word they have coined equates to the hidden costs that end up being built into the prices offered by traditional retailers.
Brandless is focused on people first, especially in the provision of the quality of its products. For example, all Brandless products focus on quality ingredients, customer health and integrity. All of these focus points are designed to serve the customers’ needs in the best possible manner and to exceed expectations at every turn. Brandless prides itself on a “Just What Matters” philosophy for its customers and also on constantly expanding its line of product offerings. The company also has rigorous brand standards for quality, meaning that each product is of the finest quality.
Brandless recently announced a successful Series C funding round that raised an additional $240 for the company to continue growing as a disruptor in the realm of online shopping for groceries and goods. The company’s co-founders launched the e-commerce business after noting the massive shift in customer behavior over the past several years that left big-name retailers struggling due to the need for added funds that cover the cost of physical locations.
The company has been around just one year, and already has over 300 proprietary items available to consumers via its virtual shelves. The company ships to 48 states and the $240 influx of funds, spearheaded by SoftBank, will help it to compete directly with established e-commerce leaders such as Amazon. All items are sold at a flat price and there is a standard shipping fee that slightly varies based on the final cart’s total.
There is clearly a great amount of potential for the e-commerce retailer, especially as overall consumer patterns shift to prioritize digital shopping. In fact, even the largest big-box retailers now almost have to offer a buy online, pick-up in store option. People want to find the best price and they want to do it from the comfort of their computer screen or their smartphone. It will be interesting to see how the company expands after such a successful Series C funding round.